A wax is a composition of long chain fatty acids, alcohols, and sterols that melt at a slightly higher temperature. Generally, on the basis of source waxes are of two types – natural and synthetic. Synthetic wax has exceptional characteristics such as strong bonding as well as is relatively cheap than the natural wax. Synthetic wax derived from the synthetic process such as polymerization is referred to as synthetic polymer wax.
Exceptional characteristics of synthetic polymer wax include better abrasion resistance, high melting point, bright translucent shine, and offers better durability. These properties of synthetic polymer wax depend on the production process of synthetic polymer wax. Synthetic polymer wax is generally utilized to modify the surface texture, appearance, hardness and viscosity of wax blends. Moreover, synthetic polymer wax acts as an anti-slip agent, dispersant, lubricant, blinding agent, shining agent across the end-use applications. Furthermore, synthetic polymer wax is mainly applicable in the automotive, rubber and chemical industries.
Global Synthetic Polymer Wax Market: Dynamics
Strategic developments at regional level have increased the demand for raw materials. The infrastructural development worldwide generates demand for paints, coatings, and inks, which is positively expected to impact the growth of the global synthetic polymer market during the forecast period. Moreover, the FDA (Food and Drug Administration) has approved the use of synthetic polymer wax in the food packaging industry, which is the major factor projected to surge the growth of the global synthetic polymer wax market over the forecast period.
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Growing usage of natural waxes such as carnauba wax owing to the strict regulations by government authorities is expected restrain the growth of the global synthetic polymer wax market in the coming years. However, the moderate price of synthetic polymer wax compared to natural waxes and its notable properties are encouraging investors to invest in the global synthetic polymer wax market.
Population growth, coupled with the increasing per capita consumption of products and demographic changes will drive the growth of the automotive, pharmaceutical and food & beverage industries across the world. Synthetic polymer wax act as a raw material in these industries, which is expected to contribute to the growth of the synthetic polymer wax market.
Global Synthetic Polymer Wax Market: Regional outlook
Geographically, the global synthetic polymer wax market is segmented into seven key regions includes Middle East & Africa, Western Europe, North America, South East & Asia Pacific, Japan, Latin America, and Eastern Europe. The growing demand for cars in Europe and North America is expected to boost the growth of the synthetic polymer wax market in the regions during the forecast period. Moreover, growing industrialization in emerging economies such as China, India, Hungary, and Morocco is expected to surge the growth of the synthetic polymer wax market over the forecast period.
Global Synthetic Polymer Wax Market: Key Players
Examples of some of the key participants identified across the value chain of the global synthetic polymer wax market include BASF, Innospec, The DuPont, Honeywell, ZSCHIMMER & SCHWARZ, SCG Chemicals Co., Ltd, Trecora Chemical, Baker Hughes, Zell Chemie International, and Clariant, among others.
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Global Synthetic Polymer Wax Market: Segmentation
The global synthetic polymer wax market is segmented on the basis of product type, application, end use, and regions.
On the basis of product type, the global synthetic polymer wax market is segmented into:
- Homopolymer Wax
- Polyethylene wax
- Polypropylene Wax
- Fishcher-Trospch Wax
- Co-polymer Wax
- Ethylene Vinyl Acetate Wax
- Ethylene Acrylic Acid wax
On the basis of application, the global synthetic polymer wax market is segmented into:
- Lubricating
- Wetting and dispersing
- Surface Modifying
- Retention
On the basis of end-use industry, the global synthetic polymer wax market is segmented into:
- Polish Industry
- Floor polishes
- Car polishes
- Furniture polishes
- Shoe polishes
- Construction
- Plastics
- Paints & coating
- Printing ink industry
- Paper & packaging
- Textile industry
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